20 Victoria Road
Chelmsford
Essex
CM1 1GP
Apartments 1-6 South Avenue, Southend-On-Sea
By Auction £1,000,000
11 Bedroom Apartment
- Freehold with 6 Apartments
- Gross Yield 7.5%
- Total NIA 3252sqft
- Off-Road Parking for 6 cars
- Close to Local Amenities
- 0.5 miles from Southend Train Station
*Being Sold By Modern Method Of Auction*
Investment Summary: Freehold of 7 South Avenue, Southend-On-Sea, Essex (including 6 Apartments)
Investment Consideration:
Gross Yield: 7.5%
Rental Income: £75,000 p.a.
Comprises 1 x Detached Residential Block on a plot of 0.14 acres
Newly built in 2020 with new modern facilities including private/communal areas and intercom entry phone systems.
6 off-street car parking spaces
Total NIA 302 sqm (3252sqft)
Tenants in situ.
Located within 0.5 miles from Southend Train Station
Property Description
The property consists of a modern residential block containing 6 self-contained flats, all purpose-built in 2020. Each flat benefits from contemporary design, and access to secure off-street parking. The building is equipped with intercom entry systems and offers both private and shared amenity areas for residents.
Accommodation Breakdown:
Apartment 1: 603sqft - 2 beds
Apartment 2: 508sqft - 2 beds
Apartment 3: 599sqft - 2 beds
Apartment 4: 586sqft - 3 beds
Apartment 5: 497sqft - 1 bed
Apartment 6: 459sqft - 1 bed
Total internal sqft: 3252sqft
Tenancy:
Current rental income is £75,000 per annum. Ranging from £850/month - £1250/month.
Location:
7 South Avenue is situated in Southend-On-Sea, Essex, a vibrant coastal town with excellent transport links. The property is within walking distance (approx. 0.5 miles) of Southend Central and Southend Victoria train stations, off
Photos, Floorplan and Virtual Tour are Apartment 3.
*Being Sold By Modern Method Of Auction*
Agents Note
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Energy Efficiency and Environmental Impact
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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